Retention And Limits Clause
Provision in almost all excess of loss reinsurance contracts under which payment is made by a re insurer of each and every loss incurred by the cedent in excess of a specified sum, up to a fixed limit. Under this clause, there is no restriction on the number of claims that may be recovered by the cedent under the contract for any one event. The only stipulation is that each claim must arise as a result of the event in question.
Popular Insurance Terms
Type of universal variable life insurance policy that provides guideline premiums to be paid usually by the policy owner. Charges on a monthly basis usually include the cost of insurance, ...
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Sum total of all assets owned by the decedent to include personal property, real property, and trust property. ...
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Care in a sanitarium, nursing home, or other facility designed to provide custodial care on behalf of the mental and physical well-being of the patient. The cost may or may not be provided ...
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